Advanced algorithms and a society that increasingly loves to share their latest and greatest adventure, accomplishment and breakfast choices is a marketer’s dream. All of that data constantly streaming into Facebook’s servers opens near endless possibilities for companies to get in front of target audiences. But what if it could be fine-tuned, like an assassin’s blade?
The addition of geofencing to the marketing world introduced a wide array of benefits that, up until 10 years ago, was simply impossible. Advances in technology provide real-time information on audience location, which can be channelled and deployed to maximize your targeted advertising.
Sound too good to be true? The Your Business Marketing team has become Northeast Ohio’s trusted source for building marketing audiences and can get to work activating your Facebook geofencing strategy. Read on to learn more about what this means.
What is Geofencing Anyway?
Consider camping in bear territory for a moment. You set up a border around your camp with a line that encircles your tent. Attached to the line, at fixed points, are bells. The bells are there to notify you when you have a “visitor.” That is the basic concept of geofencing, except that the visitors in the case of marketing are not large carnivores looking for a midnight snack.
In its simplest terms, geofence marketing is placing virtual markers around a specific location. When that barrier is crossed by a prospect matching specific demographics, ads are triggered designed to elicit a response from the prospect and drive business your way.
7 Benefits of Using Geofencing in Facebook Ads
Facebook Ads allows marketers to narrow audiences into specific buckets based on a whole host of demographic information. When you add geofencing to the strategy, you effectively “turn it up to 11.” Here are a few reasons you should consider adjusting your plan to include Geofencing and Facebook.
1. Mobile Society
Mobile devices have infiltrated our daily lives to the point that we have added an additional step to the traditional pocket check before we walk out the door. Smartphones, once only popular with younger generations, are now in the hands of grandma as she posts her newest confectionary delight on Instagram for her 20 followers to enjoy.
Facebook currently has over 2.8 billion active users. Slice and dice that however you like, that is a tremendous amount of opportunity for businesses.
2. Always Streaming Data
Even when we are idle, our phones are transmitting real-time data. That information is outlined in Facebook’s terms of service, which we know you diligently read, but it is worth re-emphasizing. The result is that prospects crossing a geofenced area don’t even have to be on their phone for triggers to launch ads.
3. Customizable to Each Business
Depending on your market, geofencing can be as wide or as narrow as you want. If you have ever been to Texas, you know that you are approaching a Buc-ee’s convenience store once you get 200 miles away. If you are looking to capture foot traffic as opposed to travelers, pairing that down to a 2-mile radius is more appropriate.
4. Reliable Demographic Information
The beautiful thing about geofencing is A/B testing can provide the best results possible. Tie that to all of the demographic marketing that we know and love about Facebook Ads and you have a truly powerful machine.
Example: you just opened the 47th brewery in town and want to celebrate your new Strawberry Jalapeno Pilsner, fantastic. Mormons in their late 60s are an unlikely target demographic. But the college four blocks away may provide ample opportunity. Geofencing makes it possible to deliver the right ads to the right people at the right moment.
5. Tap Into Nearby Events
Even smaller cities draw crowds. Are you using that to your advantage? Geofencing around specific events in the area will put your product in front of audiences that might not be familiar with your city. Just tapping into a small percentage of those attending an event can pay huge dividends.
6. Maximize Advertising Dollars
Combination of Geofencing and Facebook removes the old “spray and pray” methodology of marketing. Aside from being costly, results varied pretty widely. For brands that are not well established, that strategy can be detrimental to growth. Geofencing provides the comfort of knowing that all ads being deployed are targeted.
7. Cost-Effectiveness
Facebook’s pricing model is based on impressions. Rates vary, but overall the cost per click is relatively inexpensive. Compared to large-scale advertising campaigns, it can save companies thousands of dollars.
Starting a Geofencing Marketing Strategy
Now that you know the benefits, time to put the new tool into action. Facebook is incredibly user friendly when it comes to placing ads, but there is no replacement for experience in the marketing space.
The Your Business Marketing team has built a reputation around helping Cuyahoga county businesses navigate the complexities of Facebook advertising. Whether you are just getting started or already have an existing marketing strategy, our team can help take your marketing to the next level. Call us at 800-499-1996 or visit our website to schedule a consultation today.